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AllCryptMarkets Review: Worst Broker You’ll Ever Encounter
Table of Content
AllCryptMarkets Review, There are many reasons why investing in cryptocurrencies, including profitability and resistance to inflation. But be aware of many associated risks like market volatility and online trading scams.
With reference to the latter, we designed this AllCryptMarkets review, analyzing this fake crypto-asset broker. In a nutshell, this anonymous entity fails to provide valid evidence like the company’s registration number, HQs, and license.
Aside from this, its trading platform, conditions, and withdrawal policy resemble an investment scam. Therefore, please continue reading our AllCryptMarkets review and learn more about this worst broker you will ever encounter.
|Minimum Deposit||250 USD|
|Broker Type||Crypto-asset broker|
AllCryptMarkets Regulation and Safety of Funds
Regarding the safety of funds, it is ensured by strict legislation stipulated by financial authorities. In connection with this, AllCryptMarkets is an unlicensed and unregulated brokerage firm.
That being the case, this illegal broker doesn’t have the capabilities to protect you from inherent trading risks.
Instead of that, it exposes you to unneeded dangers. Speaking of which, legitimate forex providers lessen by applying negative balance protection and segregated accounts.
On top of that, companies certified by high-level financial markets regulators like FCA, ASIC, and BaFin are covered by compensation programs. Thus, for example, in case a broker goes bust, traders are indemnified for up to 85,000 GBP (the British FCA).
Trading Platform Overview
Concerning the AllCryptMarkets trading platform, is a web trader. This indicates that it is available only as a browser-based platform. This isn’t necessarily a bad thing, however, it limits your trading experience.
By comparison, modern trading programs enable trading from different devices, i.e., computer software, mobile app, or internet-based platform. Examples of such systems are cTrader, Sirix, MetaTrader 4, and MetaTrader 5.
They, by far, exceed a web trader not just in terms of versatility but regarding ease of use and features. In other words, they are intuitive and equipped with cutting-edge tools (e.g., stop loss, copy trading, expert advisors, and fast execution).
Account Types Available
As indicated, another common trait of scam brokers is anonymity. This doesn’t just refer to the fact that AllCryptMarkets hides its address, which makes it harder to determine its jurisdiction, but it also means that this phony broker is not transparent about its services.
Accordingly, details about trading accounts remain obscure. Consequently, there are no details on maximum leverage, spreads, and trading fees. Taking into consideration the company’s status, we are sure that its accounts come with fabricated conditions to entice and defraud traders.
In addition, there is no demo account at AllCryptMarkets, which is also typical for fraudsters. On a side note, this option is a must-have today. It allows traders to create free accounts and practice real-life trading without the risk of money loss.
AllCryptMarkets Trading Instrument
With reference to trading instruments, the AllCryptMarkets broker reportedly provides the access to a wide range of tradable assets. A quick overview of the financial markets is as follows.
- Cryptocurrencies: Bitcoin, Dogecoin, Ripple;
- Currency pairs: USD/EUR, GBP/CHF, AUD/JPY;
- Commodities: gold, crude oil, wheat;
- Indices: Russell 2000, Euronet 100, Jakarta Composite Index;
- Stocks: Bank of America, Ford, Intel.
Regardless of this offer, don’t forget that it is an unscrupulous broker. Even if it can enable trading on the aforesaid markets, it is not hard to imagine how it looks with subpar trading software and adverse conditions.
Deposit and Withdrawal
Continuing in a manner of a broker scam, AllCryptMarkets has a deposit and withdrawal process that fits the needs of this fraudster only. First, there is a standard scarcity of information about supported means of payment, involved fees, and the processing time.
Then, there is a high minimum deposit, which is 250 USD. In contrast, 10 USD is a starting deposit with some of the most trustworthy brokerage services. Lastly, in relation to payment methods, since AllCryptMarkets bears all the hallmarks of an online trading scam, it is most likely that it accepts only depositing in digital cryptocurrency.
Remember that there are no money withdrawal guarantees with unlicensed brokerage firms.
Got Scammed by AllCryptMarkets? Chargeback Is The Answer
If you are among the victims who have failed for fake AllCryptMarkets reviews and invested with this financial swindler, unfortunately, you are defrauded. Anyhow, getting your money back is possible.
Be sure to act fast and seek professional help. Our team of cyber security experts can assist you with retrieving lost funds to the AllCryptMarkets scam. Keep in mind that a chargeback process with crypto wallets is difficult to trace and reverse. But not for us. Contact our company today.
In the summary of our AllCryptMarkets broker review, let’s go through the most crucial findings. Above all, this forex provider is not authorized to operate anywhere, which means that it can be involved in fraudulent trading activities without consequences.
Its trading platform is a bad copy of a genuine modern trading program. Similarly, the trading environment at AllCryptMarkets can’t deliver success but inevitable failure. Therefore, don’t let this con artist lure you into its fraudulent project.
Think twice before investing with any brokerage company, and do it only when you are 100% sure it is safe. If you need help with cashback or selecting the right broker, get in touch with us.
FAQs About AllCryptMarkets Broker
Is AllCryptMarkets a Good Broker?
No, AllCryptMarkets is a shady brokerage firm that poses a huge risk to traders.
Is AllCryptMarkets a Regulated Broker?
No, AllCryptMarkets is not licensed and regulated by any financial market regulator. As such, it is illegal and a potential scam.
What Is The Minimum Deposit For AllCryptMarkets?
The minimum deposit at AllCryptMarkets is 250 USD. It is too high considering the status of this fake broker.